Anonymous • LEOcoin is digital ‘cash’
LEOcoin has real anonymity, not ‘almost’ anonymous like its predecessors. When the idea of cryptocurrencies emerged, one of its purposes was to create a truly anonymous system that requires no bank or centralised operator. In order to stay anonymous the developer must constantly stay one step ahead of everyone who seeks to control it. The anonymity of LEOcoin is assured and will always remain so thanks to the advanced technology supporting it.
Through its design every single transaction and change is made public through the public ledger. That is the main difference between how standard monetary system works and how the block chain technology works. This way everybody can see all the transactions that ever happened including the first coin that was ever created. However, the identities of those who are using it are always hidden.
The encryption of the block chain means that every move that is recorded in the ledger is encrypted. It is written in a way that would take all the computers in the world thousands of years to decrypt and brings the highest level of security. Every identity and every transaction is turned into a series of letters and numbers that make no sense unless you know how to turn it back to its original state. Think of it as a locked chest that is impossible to open unless you have the key.
Secure • The highest grade of security
Once the payments are made, you need not to worry about charge backs. Because the way the block chain is processed there are no middle men and/or banks that would control the transactions. It does not require any such institution because it is absolutely impossible to manipulate the ledger giving it 100% security.
Your future is secure with LEOcoin because no ASICS can be built for LEOcoin. It uses Scrypt JANE which is a dynamic script that keeps changing over time rendering ASICs (custom mining hardware) obsolete. The real benefit is that ordinary people with standard computers can participate meaningfully in the mining work. Mining transactions are validated and distributed by individual nodes enabling real users to earn from proof of work – not investors building mining farms. Other algorithms enable big players to dominate the processing and raise the difficulty level of mining, giving everybody an equal chance to benefit from LEOcoin.
LEOcoin’s Proof of Work (POF) and Proof of Stake (POS) hybrid reduces the risk of Selfish Miner flaw and 51% attacks. Transactions in any cryptocurrency have to be approved and verified by the peer to peer network. This can be done either by raw computer power or in a more energy efficient way by the stake-holders (LEOcoin holders). All the transactions that are made are recorded inside a block. The person who finds that block is awarded new coins. Simplistically, this could be compared to a lottery. The more tickets you buy, the better chances you have to win the award. With LEOcoin you can participate in this process by using your computer to contribute its hashing power or by keeping your wallet open and using your stake. The combination of both systems makes LEOcoin virtually invulnerable to attacks.